Topic: Is cloud mining reliable? (Read 1753 times)

Why do you want to invest in cloud mining?

Why do you want to pay someone to mine coins for you when you can just buy coins?

there is only one reason, to increase your bitcoin amount, while you can do it with mining, you can't exactly do it with buying alone, unless you go with trading and you are good a t it

Where can you rent a miner that will give you more coins than you give them? Why would they do that?

this is not about renting but about cloud, if you reach roi, you are good to continue and take pure profit, renting on the other hand will never roi, if from who you rent knows everything about crypto and sets a non-competitive price(but there are exceptions)

Cloud mining is either renting miners with a different name or a pure ponzi.

josephno1

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Scrypt.cc is most likely a ponzi as they have no proof that they mine. In addition their link to their forums is dead. Also whenever I contact their customer support, my ticket always happens to magically get deleted. I would trust HashNest or NiceHash for mining and both of them are endorsed by ASIC chip manufactures and HashNest is owned by bitmain who also sells asic miners and has a mining pool

Amph

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Quote from: crazyivan on May 01, 2015, 04:09:10 PM

Why do you want to invest in cloud mining?

Why do you want to pay someone to mine coins for you when you can just buy coins?

there is only one reason, to increase your bitcoin amount, while you can do it with mining, you can't exactly do it with buying alone, unless you go with trading and you are good a t it

Where can you rent a miner that will give you more coins than you give them? Why would they do that?

this is not about renting but about cloud, if you reach roi, you are good to continue and take pure profit, renting on the other hand will never roi, if from who you rent knows everything about crypto and sets a non-competitive price(but there are exceptions)

Phildo

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Why do you want to invest in cloud mining?

Why do you want to pay someone to mine coins for you when you can just buy coins?

there is only one reason, to increase your bitcoin amount, while you can do it with mining, you can't exactly do it with buying alone, unless you go with trading and you are good a t it

Where can you rent a miner that will give you more coins than you give them? Why would they do that?

Cause by renting hash ASIC manufacturers reduce the risk. If they sell us hash now, they receive money now, including markup, without being affected by price volatility, difficulty growth, etc.
In other words, they switch variable risk elements to the person who rents hash. Lots of other industries do this.

Do other industries do it with literal money printing machines?.

Any reason someone has to rent or sell you a machine is a reason that you shouldn't buy it. There's no way for both people to win. You will lose on the transaction unless you get out more coins than you put in (or more coins than you could have bought when you started). All the one's that have given more coins since the first asics have been shown to be scams. If you feel like burning electricity go for it, if you feel like doing the work to pass your space heater off to someone else on a site that lets you resell the hash go for it, there can't be a way for both people to profit off a money making machine that requires no work.

crazyivan

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Why do you want to invest in cloud mining?

Why do you want to pay someone to mine coins for you when you can just buy coins?

there is only one reason, to increase your bitcoin amount, while you can do it with mining, you can't exactly do it with buying alone, unless you go with trading and you are good a t it

Where can you rent a miner that will give you more coins than you give them? Why would they do that?

Cause by renting hash ASIC manufacturers reduce the risk. If they sell us hash now, they receive money now, including markup, without being affected by price volatility, difficulty growth, etc.
In other words, they switch variable risk elements to the person who rents hash. Lots of other industries do this.

flyingplows

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Why do you want to invest in cloud mining?

Why do you want to pay someone to mine coins for you when you can just buy coins?

there is only one reason, to increase your bitcoin amount, while you can do it with mining, you can't exactly do it with buying alone, unless you go with trading and you are good a t it

Where can you rent a miner that will give you more coins than you give them? Why would they do that?

The thing is that some people still rent them. While there is a demand there would also be a supply. And some people rent a miner for a POW period of the coin that they believe in. In this case they don't need a miner long term and they ''need'' it more than the owner during that special period Wink

Phildo

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